How to Close Citibank Suvidha Account

It has been few months that I was brooding over whether to close my Citibank Suvidha Account. I have been using the account since last 5 years and was very happy with the online services but ever since the account got converted to non-salary account every single service over internet account was being charged.

The recent deduction of Rs 275 by Citibank towards Maintain Monthly Average Balance was a good trigger for me that I shall take any action.It has been a very tough decision for me as the Online services which Citibank gives are the best in the country. Believe me that in my last 5 years of service I had visited the branch only today for closing the account and I had called the Citibank phone line I guess not more than 10 times in 5 years.

Reason for closure

1. To maintain Rs 25000 monthly average balance in the account else the account holder is fined with penalty.

2. The online fund transfer has been charged from transaction 1 for Rs 5.5 for every transaction.

3. The monthly average balance amount was being increased from 10000 to 25000 which I feel is very difficult in today’s time.

Below is what can be done to close the account

1. Transfer all amount to your different account 1 day before the D-day
2. Take a copy or scan your debit card, 1st and last unused cheque leaf for your reference

3. Download the online statements of the account from internet account
4. Prepare two copies of your application, one for submission and one to be taken as acknowledgment.

On the D-Day:
1. Visit your Citibank branch and submit the application to the Citibank officer

2. Officer will ask you to tear the cheque leaves and destroy the debit card in your presence

3. You have to write the same on your application that “I have destroyed the debit card and unused cheque leaves in from of Citibank officer”

4. The destroyed debit card and cheque leaves will be returned

5. The Citibank officer will put a Citibank Timestamp seal on your duplicate application and you are done.

6. Citibank officer mentions the account will be closed in 3 working days, but I received the closure confirmation within 4 hours of application submission as sms and e-mail (pretty fast)
7. There are NO closure charges for closing of the account .

Other Methods

1. A written instruction mentioning your 10-digit account number, signed by the account holder(s).

2. The unused cheque leaves and ATM card broken into pieces.

The written application can be sent to following address

Method 2 - If sent by ordinary post:

Citibank N.A,

P O box No. 4830

Anna road post office

Chennai 600 002

Method 3 - If sent by courier:

Citibank N.A.

Mailroom

No.2, Club House Road, Chennai 600 002

Hope this article will be useful for many of you who are facing similar problems.

Disclaimer: - The process mentioned for closure is as per 17^th April 10. In case of doubt confirm with bank.

Transition

Below article I found when while browsing some of my old documents, which I wrote some where in April 2006. I was planned to publish it as a blog which never happened. I guess it’s better late than never and thought of publishing it this time.

**************** April 2006 ***********

Yesterday felt nostalgic after receiving emails from friends from all parts of the country. Each email either expressed emotions/anger/happiness regarding convocation ceremony for batch of 2005 MCA batch at IMT Ghaziabad.

Last night had a beautiful dream of me as part of Convocation ceremony 2500 KMS away in Ghaziabad. I had all fun with all my batch mates and juniors. I was about to receive my degree by none other that TCS big boss Mr. Ratan Tata that suddenly a “DING-DONG” “DING DONG” broke my sleep and I have to wake up leaving my sweet dream of Convocation ceremony.

Though I was not able to take my degree yet had this very good feeling of meeting old pals.While on my way to office on my bike had few thoughts which passed through my mind which I am putting here.

Most of them concerned to the mails I received yesterday stating that people have changed after college and have different priorities in life now they are no longer the same as they were during the college.

Till last year (2005) I knew that I had three transition phases in my life

1. First one was when I gave my board exams of class X. Had this sense of some achievement of being someone in life & have crossed one of the first major phases in life. Though transition from class X to class XII was bit tough at that tender age.
2. Second transition phase started when I was struggling or rather giving tough fight to life after class XII to get in one of the best engineering college so that I can also become one of the lucky ones who people say are successful.
3. Third transition was after graduation to get into professional college.
4. Then in early half of 2006 I came to know of the 4^th transition phase and that was life on job, when you are all alone and have come face to face with real life. "Life on job …" when you are on your own and you meet face to face with life … sometimes I want to runaway from it … but I guess escapism is no solution ..

During all first 3 phases I fought all my life to achieve what I am today … but today I realize this is not what I have been fighting all my life ……

Some of you may feel (even me notice) that people are changing around you and they are not the same as they were back in college … but what I say is we always try to see the person from our perspective, from the angle which suits us ..Unaware of the fact what problems personal/professional he may be facing in life ……

In my opinion we all have started settling in after and getting used to life we are leading rite now after around 1 year in the industry … just give everyone personal space / moral support in life so that he can successfully get over this 4th transition phase.

I guess I have written a lot … I know most of you might be abusing after reading all this crap … but just felt like sharing with you all … will love hear from all those who haven’t got the time to write …

So just go ahead and EXPRESS YOURSELF …

Will end this article with my favorite quote as I always say …

"Jo Dil Ko Aacha lage Wo Karo….

(Second line is implicit)"

To be continued ……